Economists believe record high dollar sales by the Reserve Bank of India (RBI) to protect the rupee s exchange rate and interest earned from large scale liquidity operations have boosted the prospects of a bumper payout, which one overseas banking group believes could be as high as Rs 3.5 lakh crore.

The uncertainty surrounding the global trade tariffs after the US slapped reciprocal tariffs on exporting countries earlier this month, the volatility index (VIX), which captures the expectations of market participants about near term volatility, across major equity markets shot up significantly.

Motilal Oswal Financial Services projects just 0.5% year-on-year earnings growth for the March quarter across its coverage universe of 18 banks, including five large lenders.

The US Treasury is considered to be the world s topmost risk-free asset. So, when the US Treasury yields started to go up, it rang alarm bells around the entire world. There is a lot of refinancing of the debt, which is due in the next one year by governments and corporates across the world. It s as though the global central banks are tightening; it has that kind of an impact. We would like to see US Treasury yields correct, particularly when equity markets correct.

Most emerging-market currencies will decline, according to Societe Generale strategists, who warned that China s yuan is set for a "modest" depreciation and that South Africa s rand and Latin American currencies will likely be stuck at weak levels. At Goldman Sachs, strategists said the dollar unwind will probably support exchange rates in other big developed countries, and not EM.

NSE Holidays 2025: Indian stock markets are closed today for Ambedkar Jayanti, providing traders a break after recent volatility fueled by global trade tensions. The Sensex and Nifty have experienced significant swings, influenced by US policies. Trading will resume for a shortened three-day week on Tuesday, followed by another closure on April 18 for Good Friday.

Investors braced for another volatile week as Trump s imposition and abrupt postponement of tariffs on goods imported to the U.S. continued to sow confusion.

Singapore s central bank eased monetary policy again due to concerns about global growth and trade, influenced by U.S. tariffs. The Monetary Authority of Singapore reduced the rate of appreciation of its exchange rate, while the trade ministry lowered Singapore s GDP growth forecast for 2025 to 0%-2%. Economists suggest further easing is possible if economic conditions worsen.

Nikkei in Japan saw a rise early Monday. This happened as shares related to iPhone increased. The US administration has granted exclusions on tariffs. These tariffs were on smartphones and electronics from China. Murata Manufacturing and TDK saw significant jumps. Advantest, a chip-testing equipment maker, also rose. All Tokyo Stock Exchange sub-indexes increased.

Wall Street futures experienced a rally in Asia following the White House s decision to exempt smartphones and computers from U.S. tariffs, though gains were limited by President Trump s warning that levies were still possible. Despite initial relief, analysts remain concerned about the potential for a U.S./global recession due to ongoing trade tensions and policy uncertainty.